Primary Aluminum Sees Slight Correction, Aluminum Tense Scrap Prices Hold Steady [[Daily Review of Aluminum Scrap]]

SMM, April 29:

Today, spot primary aluminum prices rose by 70 yuan/mt compared to the previous trading day. SMM A00 aluminum ingot prices closed at 20,020 yuan/mt. The overall aluminum scrap market prices followed the decline in primary aluminum prices. As the traditional peak season of "golden March and silver April" nears its end, end-users are releasing new orders sluggishly, and downstream processing enterprises are experiencing heightened risk aversion, with raw material purchases being made as needed.
Today, the centralized quotes for baled UBC aluminum scrap range from 15,050 to 15,650 yuan/mt (tax excluded), while the centralized quotes for shredded aluminum tense scrap range from 15,750 to 17,250 yuan/mt (tax excluded). By product, the supply of wrought aluminum alloy scrap products such as bare bright aluminum wire and shredded wrought aluminum alloy scrap remains tight, with price adjustments ranging from 50 to 100 yuan/mt.
In the short term, the aluminum scrap market is likely to maintain a pattern of fluctuating at highs. However, if primary aluminum experiences significant volatility due to macro factors (such as US Fed policies, geopolitical conflicts), or if domestic secondary aluminum enterprises collectively cut production, aluminum scrap prices may face periodic downward pressure.

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